Everyone’s a Landlord—Small-Time Investors Snap Up Out-of-State Properties


Jack Cronin discovered San Francisco-area properties too expensive or too removed from the town middle to purchase when he lived there in 2020. The tech employee nonetheless needed a chunk of the hottest housing market of his lifetime, so he began wanting farther afield.

Final 12 months, the 28-year-old used an internet site referred to as Roofstock, which offers listings and information for buyers excited by rental properties, to purchase a three-bedroom dwelling outdoors Jackson, Miss., for $265,000. Mr. Cronin, who now lives in New York Metropolis, has by no means visited Jackson nor met the tenants in his dwelling, evenly landscaped with bushes and crepe myrtle bushes. It’s sufficient to know {that a} administration firm collects $2,300 a month in lease for him.


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